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PDL help in Alabama - FLORENCE

Thu, 10/04/2007 22:18

I received a loan from loan point usa for $300. I had $90 taken from my checking account (which they said did not go toward my balance but only served as an extension) every two weeks x 3 payments before I ended up overdrawn and had to close my account. I called them to make arrangements for another method of payment, but was told they would not accept western union payments until my account had either been closed or charged off. During the next 3-4 weeks they have attempted to debit my account for 6 more $90 payments to bring my total balance of loan to $900. Is this right? I live in Alabama- FLORENCE They said if I sent them 4 payments of $150 they would subtract $300 from balance. Please help me. They sent me an e-mail saying that they were getting ready to render a decision that would affect me directly and to call them.

Lisa
please post this under the "Pay Day Loan Help" section so it will be
visible to everyone for reply. Just copy and paste what you have already
written and give it a title like: Need Payday Loan Help in Alabama. I
will post the laws for Alabama when I see your
thread!

Looks
like a Mod switched it over so I'm going to put my two cents in here.

First of all Loan Point, is funded by Geneva Roth, and them I've dealt
with. I've received that "render decision" email often. Now once
Frogpatch or someone puts up the laws for Alabama we can go into a few
of those details.

But for now, thank goodness you've closed your account. Do you have any
other PDLs debiting?

So they've taken out $270 right? Well what is the most likely case is
that you don't owe them more than $30.

Actually I'll go check out the laws, and if no one has posted before I
get back then I'll post them and we can get further into
this....

Okay
well Loan Point broke the rules in that only one roll over is allowed in
Alabama. And I checked the Licensee database and Loan Point nor Geneva
Roth come up.

So they are illegal. First you need to send them a letter. You can
click the do it yourself button at the top of this page, search sample
letters in the search box or check out my blog to find a letter to
write. You will be telling them you are revoking the authorization for
automatic debiting of your account, revoking any wage assignment you may
or may not have signed and that they are illegal and you only owe them
the principal. (which if they've debited $90 3x, then you've paid 270
and only owe 30)

Here is the link at least for the Alabama state laws [www.paydayloaninfo
.org/state_detail.cfm?id=AL] and from there are links to file a
complaint. File that complaint about them, it will help get this
settled. And help to get them stopped from doing any more
harm!

Well,
Loan Point USA not only took 3 $90 payments from my checking account,
but called me and told me I had to pay 4 payments of $150 to get my
balance cleared. I've sent one payment this past Wednesday via Western
Union, but I haven't felt right about it. They told me that each time
they tried to get payment from my account and the funds werent there,
they added that $90 extension fee to my loan bringing it to $900. I
just wondered what would happen if I couldn't pay
it?

Sub: #8 posted on Sat, 10/06/2007 - 02:42

Unregistered

Well,
I sent loan point a payment of $150 via western I wondered if I should
send them anymore. I didnt tell them to extend my loan six times that
they kept adding $90 each time. Can they do anything to me
legally?

Sub: #9 posted on Tue, 10/09/2007 - 19:24

Unregistered

First
of all sorry I couldn't get back to you right away....

So you've now paid them 270 and 150 (equalling 420 paid for a 300
illegal loan) . I say that you have paid them enough. Here is where
you stand up and take charge.

They are illegal and they can't do jack to you, although they will
threaten to. First send them a standard letter. Search under sample
letters, I've got one on my blog, and others have some as well. You
will need to tell them you are revoking authorization for automatic
debiting of your account and revoking any wage assignment you may or may
not have signed. Even though they can't take any more out of your
closed account, doesn't mean they won't stop trying, and it is nice to
have some paperwork to back it up. Also in this letter state how much
you have paid, reference the dates they took out money and the reference
number on the western union you sent, and that by the state of Alabama
your account is considered paid in full. Keep copies of this letter.
Send it to them via mail, fax, and email. (when you fax, do it from a
place like Kinko's and no place where they know you like your work).

Go and file complaints against them with the state authorities. The
link is in the Alabama laws that Goudah posted. Don't forget the BBB
and the FTC. Then sit back and wait, once they are contacted by the big
guns, they will eventually agree to your letter and send you a
PIF.....

And hopefully someone will come along and agree with me, I think that is
how it happens..... And hopefully someone will have a good "I've paid
you enough" letter....

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